MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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To: eichler who wrote (80451)	7/18/2001 6:11:40 PM
From: t2	Read Replies (3) of 99985

OK..I have thrown in the towel on this market. It does not appear to be going anywhere. Most of my larger cap holdings are not really dropping significantly but considering the damage in the mid cap techs, it appears that the large caps may not be able to escape the damage in the near term. Therefore, I reduced some of my longer term holds and not trading from the long side yet, except for the odd bounces off of opening lows (like this morning). The damage from a bubble bursting just seems to go too deep. Holding some safer techs is not a good strategy when everything else in the Naz seems to be crumbling. The mid caps with prices over $30 look like very good target for short sellers, as they cover shorts in the below $10 stocks. That seems to be happening. Not shorting at these levels....except in very short term daytrades.

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